The GCC HVACR Market size was valued at around USD 6.79 billion in 2024 and is projected to reach USD 8.93 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.67% during the forecast period, i.e., 2025-30.
GCC HVACR Market Driver:
Expansion of Tourism Sector to Augment the Market Growth – Tourism is one of the fastest-growing sectors in the GCC region. Countries like the UAE, Oman, and Saudi Arabia, actively encourage medical tourism, business & leisure travel, etc., by providing easy visa clearance, world-class hospitality services, etc. Consequently, there’s a mounting influx of foreign visitors to these countries. These developments have been encouraging the establishment of new hotels & resorts for commercial & cultural purposes by hotel groups like Ciel, Jumeriah, and others, thereby pushing the demand for HVAC systems, eventually aiding in enhancing the GCC HVACR Market share.
Furthermore, Saudi Arabia & Qatar have set the target of increasing their tourist footfall annually by around 100 million & 6 million, respectively, by 2030 & for it, they are encouraging leisure activities, adventure sports, etc. As a result, Aman Hotel, Armani Hotels, etc., are expanding their hotel chains in these countries.
Also, as per the announcements from the Future Hospitality Summit 2024, Saudi Arabia’s $110 billion development pipeline is targeting over 362,000 new hotel rooms by 2030. The event also catalyzed significant business, with over $1.1 billion in business opportunities and 17 major deals announced in 2024, confirming its importance as a deal-making platform. It would then amplify the demand for centralized air conditioners and, in turn, fuel the HVACR Market growth in the upcoming years.
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Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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GCC HVACR Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Type
- Window AC
- Up to 1 Ton
- 1.1 to 2 Ton
- Above 2 Ton
- Split AC
- Up to 1 Ton
- to1.5 Ton
- 1.6 to 2 Ton
- Floor Standing AC
- Up to 2 Ton
- Above 2 Ton
- Cassette AC
- Packaged AC
- Ducted Split AC
- Centralized AC
- FCU/AHU
- Chillers
- VRF
- Refrigeration
- Window AC
- By End User
- Residential
- Commercial Buildings
- Retail
- Healthcare
- Hospitality
- Government & Transportation
- Oil & Gas
- Industrial Facilities
- Other Developing Industries (Hydrofarms, etc.)
- By Sales Channel
- Direct Sales
- Online
- Authorized Distributors
- By Country
- Saudi Arabia
- Oman
- Qatar
- Bahrain
- Kuwait
- The UAE
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including –
- LG Electronics
- S.K.M. Air Conditioning
- Carrier Corporation
- Gree
- Samsung
- Daikin Industries
- Mitsubishi
- Trane Inc.
- Johnson Controls Inc.
- Zamil Air Conditioners Holding Co. Ltd.
- others
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